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What Is Growth Value Yield (GVY) Model Stock List?

Our retail research team has created 3 stock lists, namely Growth, Value and Yield.

Some description The Growth List comprises of small-mid capitalisation companies with business catalysts which will potentially grow their earnings in the near future.  The Growth portfolio would be suitable for investors looking for higher returns and are willing to tolerate the risk of higher short-term volatility of stock prices.
Some description The Value List focuses on companies which are undervalued based on their share prices as compared to the company fundamentals. It  would be suitable for conservative investors who prefer price stability and have a longer investment horizon.
Some description The Yield List comprises of stocks that provide consistent dividend pay-out. It would be suitable for investors whose primary focus is to gain regular dividend income from their investments.


March Market Overview

The Singapore market ended flat last month despite a strong start to 2019 as the Fed signalled no plans to raise interest rates this year. While investors initially cheered the decision, stocks quickly reversed course on renewed fears of slowing global economic growth as yield curve turned negative.

Year-to-date, the STI rose 4.7%, giving a total return (including dividends) of 5.1%. On an equal weighted basis, the average gain of the 30 constituent stocks was 8.2%. Notably, only four stocks suffered losses, while 11 chalked up double digit returns with Thai Beverage surging a massive 40.2%.

Against this backdrop, Market Insight’s Growth, Value, Yield (GVY) basket of stocks also achieved a solid average total return of 12.9%, beating the benchmark index by 4.7ppt. 

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Growth List +24.2% YTD   

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The Growth portfolio was boosted by the sharp rebound in APAC Realty following cooling measures last year as prices were stable despite slower take-up rates for new launches. The group has also lined up 46 projects totalling 20,000 new homes for launch in FY19 and is deepening its presence in overseas markets.

We took profit on China Sunshine after it released record FY19 net profit but it is unlikely to repeat its stellar performance this year as rubber accelerator prices normalise from exceptionally high levels last year. We will revisit the stock if there is any sign of ASP improvement or faster-than-expected capacity expansion.


Value List +11.7% YTD

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The Value portfolio continued to be buoyed by index stock picks particularly Yangzijiang and CapitaLand, which notched double digit returns year-to-date. 

SIA Engineering recently set up 49:51% line maintenance JV with NokScoot Airlines to commence operations in Don Mueang Int'l Airport and will subsequently expand to other key airports in Thailand. 

Meanwhile, ST Engineering is making a strategic acquisition of Belgium-based Newtec Group to expand its satellite comunications capability. When completed in 2H19, Newtec is expected to generate $200m value creation from revenue/cost synergies.


Yield List +17.8% YTD

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The March performance was partly driven by semicon equipment contract manufacturer, UMS along with the strong recovery in tech stocks in general, as well as the surprise 5% dividend hike by key customer, Applied Materials. 

During the month, Maybank KE also initiated a Buy on Manulife US REIT with a TP of US$1.00 for its attractive forward DPU yield of 7%, backed by its diversified portfolio of seven US freehold office properties that possess strong demand-growth fundamentals.



Note: * Including dividends
         ** Priced in USD


This document is not research material and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This document does not necessarily represent the views of every function within Maybank Kim Eng Securities.

This document is being distributed for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments. This document is for general evaluation only, it does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons.

Opinions, projections and estimates are solely those of Maybank Kim Eng Securities at the date of this document and subject to change without notice. Past performance is not indicative of future results and no representation or warranty is made regarding future performance. Any forecast contained herein as to likely future movements in rates or prices or likely future events or occurrences constitutes an opinion only and is not indicative of actual future movements in rates or prices or actual future events or occurrences (as the case may be).

Maybank Kim Eng Securities makes no representation or warranty of any kind, express, implied or statutory regarding, but not limited to, the accuracy of this document or the completeness of any information contained or referred to in this document. This document is distributed on the express understanding that, whilst the information in it is believed to be reliable, it has not been independently verified by us. Maybank Kim Eng Securities accepts no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential loss or damage) from your use of this document, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, imperfection, fault, mistake or inaccuracy with this document, its contents or associated services, or due to any unavailability of the document or any part thereof or any contents.

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Step 1: Log in to KE Trade Mobile

Step 2: Select "Market Insight"

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Step 3: Choose from four markets and search for your stock 

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Step 1: Log in to KE Trade Mobile 

Step 2: Go to "Market Insight"


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Market Insight on KE Trade iPad App


Get the latest research insights on your iPad with Market Insight! Now you can not only trade on the move, but also stay updated on the move.


1. In-depth regional and local coverage 

  • Read reports on companies, sectors, economics and strategies.
  • View research call consensus charts and find out about Maybank Kim Eng's buy-sell-hold calls.
  • 11 markets are covered - Singapore, Hong Kong, Malaysia, Philippines, Thailand, Indonesia, Korea, Vietnam, India, United States and Taiwan.
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2. Model portfolio 

  • Get trading ideas by viewing model portfolios formed using characteristics like growth, yield and value.
  • Find out the latest news and market talk on a particular counter by clicking it in the model portfolio.
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3. Customisable content

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Accessing Market Insight on iPad

 Step 1: Download KE Trade for iPad or search "Maybank KE Trade SG" in the iTunes App store using your iPad

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Step 3: Click on the "Market Insight" tab

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